Penny Streeter’s UK Ambition 24hours Buys Leading South African Nursing Agency in £11 Million Investment Plan

Penny Streeter OBE, managing director of UK temporary staffing agency Ambition 24hours with revenue of £60 million, has announced the acquisition of Nursing Services of South Africa - the second largest provider of temporary nursing personnel in the country, supplying over 3,000 staff each month, according to the new owners.

(PRWEB) August 27, 2006 -- Ambition 24hours launched an £11 million, three year investment plan in October 2004 to develop a new South African operation, based from 13,000 sq ft freehold premises it acquired in Cape Town - where the company is already fast approaching its target of employing 1,000 sales and administrative personnel, according to Penny Streeter. This latest acquisition follows the purchase earlier this year of Synergy, a locum doctor agency in Cape Town.

“Our international expansion programme is well underway in the African continent, where we see significant opportunity. We have achieved an exponential rate of organic growth alone in the UK since we started in 1996, at over 100 per cent each year. Now that we have a well developed and proven business model, we have started to acquire strategically positioned businesses. This is within the continued discipline of having no debt or external shareholders,” says Penny Streeter.

Nursing Services of South Africa has operated for over 63 years (established in 1943), supplying nursing staff to public and private healthcare providers through eight branches - in Bloemfontein, Cape Town, Durban, East London, Johannesburg, Pietermaritzburg, Port Elizabeth and Pretoria.

Penny Streeter was educated at Alberton High in Johannesburg and left South Africa for the UK in the mid 1980s. In 1996 she founded Ambition 24hours, the medical, education and social services employment agency in the UK, which now has 13,000 registered temporary staff. She was awarded the OBE in the 2006 British New Years Honours for ‘services to enterprise’

Penny Streeter says: “Whilst developing central group synergies within Ambition 24hours, Nursing Services of South Africa will operate and trade with its own brand and branch network and will continue to reflect the qualities that have made it such a success there.

“ The directors of Ambition 24hours believe that there are significant benefits for the company and our customers following the acquisition. The attributes that have led to our success in the UK - including our well-recognised high-quality service, widespread use of leading-edge IT and rigorous compliance procedures - will be encouraged and supported throughout Nursing Services of South Africa.”

Note to Editor:

Ambition 24hours has purchased the entire share capital of Nursing Services of South Africa for an undisclosed price. The retiring directors will work with
Ambition 24hours on handover matters.

Penny Streeter was born in Zimbabwe and educated at Alberton High School in South Africa. She left South Africa for the UK in the mid 1980s.

After leaving school, Penny Streeter worked in the UK recruitment sector. She set up Ambition 24hours in south London in 1996. In 2002 her company was number one in the London ‘Sunday Times' Fast Track 100 of fastest growing companies - and by 2004 revenue reached in excess of £60 million, from the recruitment and management of 13,500 temporary personnel for the healthcare, teaching and social services sectors in the UK. This has been achieved without outside investors or loans.
For further information:
Ambition 24hours, Ambition House, 92 - 96 Lind Road, Sutton, SM1 4PL www.ambition24hoursgroup.co.uk
Media information:
www.rea-tma.co.uk T UK +44 (0)20 8870 4976

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